NetApp price target lowered to $115 from $120 at JPMorgan

JPMorgan lowered the firm’s price target on NetApp (NTAP) to $115 from $120 and keeps an Overweight rating on the shares. The company “showcased robust results” in fiscal Q4, delivering record levels of revenue, operating profits as well as earnings, driven by continued market share gains as well as “robust” growth across Public Cloud, the analyst tells investors in a research note. The firm says that while NetApp’s fiscal 2026 revenue guidance of nearly 3% year-over-year growth tracked softer relative to consensus expectations, the caution expressed by management is largely consistent with the drivers from other enterprise suppliers, including, macro uncertainty on account of tariffs and headwinds relative to public sector exposure.